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Tenant Insurance Chilliwack

Also known as rental insurance, tenant insurance provides renters with coverage for the personal belongings in their home. While your landlord’s policy will cover their rental property, it will not protect your valuable belongings. Having tenant insurance can ensure that you are covered from damage caused by theft, vandalism, water, fire, and other perils, saving you from unexpected costs and providing you with total peace of mind. Contact Wheeler-Homemakers Insurance today for a quote on a tenant insurance policy. We will work with you to provide the perfect BC renters insurance or other home insurance solution for your needs and budget.

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How Tenant Insurance Protects You

Tenant insurance offers protection in the following situations:

Fire & Smoke Damage

Renters insurance offers coverage for your belongings should they become damaged by fire or smoke.

Crime and Vandalism

If your home is ever broken into or vandalized, you could be left with thousands of dollars in replacement or repair costs. Tenant insurance provides you with coverage to minimize or eliminate out-of-pocket expenses depending on your policy.

Personal Liability

This type of coverage helps to protect you financially if you accidentally cause property damage or bodily injury to others, whether you are at home or travelling.

Additional Living Expenses

If your home becomes uninhabitable due to fire damage, water damage, or another form of damage, you may be left with significant hotel expenses or alternate rental accommodations while your home is being repaired. Tenant insurance policies offer coverage for these additional living expenses, ensuring that you do not incur lasting debts due to unforeseen circumstances.

Water Damage

From burst pipes to broken washing machines, there are many causes of water damage. If water damages your personal belongings, you could be left with extensive repair or replacement costs. A tenant insurance policy will help to minimize or even eliminate these costs, providing you with complete peace of mind.

Tenant Insurance FAQs

How much does tenant insurance cost in BC?

The cost of your tenant insurance policy will vary based on the amount of coverage you need and the options you choose. Our team will work with you to help you choose the ideal policy for your needs and budget.

Is renter’s insurance required in BC?

While tenant insurance is not required by law, it is strongly recommended for every renter in BC. Some landlords may also require it before agreeing to rent their property out to a tenant, making it a worthwhile investment.

Is tenant insurance a good idea?

While your landlord may have insurance for the property itself, your belongings will not be covered by this policy. By purchasing tenant insurance, you will ensure that your belongings are protected while covering any additional living expenses that may be incurred by severe property damage.

What is the difference between renters’ insurance and other types of home insurance?

The major difference between renters’ insurance and other forms of property coverage (e.g., home and condo) is that it’s not intended to cover damage to the space itself, but instead the items you store inside of it (like your clothes, furniture, electronics, etc.). For example, if you live in an apartment building and another tenant causes a fire that damages the whole building, you’d be able to claim damage done to your personal property as well as some living expenses, if the damage requires you to live somewhere else while repairs are being made.

How does tenant liability insurance protect me?

The liability coverage included in a homeowners, condo, or tenant insurance plan protects you financially if you unintentionally cause bodily injury or property damage to others. Examples of bodily injury or property damage include:

  • A guest slips on a spill on your kitchen floor and injures their back.
  • Your oven catches fire, damaging your home/unit and part of your neighbour's home/unit.

Does tenant insurance cover damage to a landlord’s property?

Most landlords should have their own policy to cover any damage to the physical structure of the building, especially if they are renting their property out. Your renters’ insurance is meant to cover your personal belongings, not the structure itself.

What is not covered by BC renters’ insurance?

While tenant insurance covers many different elements, there are a few things it does not cover. In most cases, tenant insurance does not cover:

  • Vehicle theft or damage - While the personal items you keep inside your vehicle may be covered, the vehicle itself is not. Coverage for that falls under your auto insurance (and, even then, only if you’ve chosen optional Comprehensive coverage).
  • Your roommate’s property - Your policy does not automatically extend to protect everyone who lives in the same space. More than one person can be named in a policy, but this is often not recommended because a roommate’s claim can affect your premiums.
  • Flood damage - This is traditionally not covered by renters’ policies.
  • Bed bugs and pests - Costs associated with pest removal are not typically covered by a renter's policy.

What happens if I do not have a tenant insurance policy in BC?

Without a tenant insurance policy, you could be left with thousands of dollars in replacement and repair costs for your belongings. In the worst-case scenario, you could lose all of your belongings and be left without a place to live for weeks or months, requiring you to rely on savings to cover hotel or temporary living expenses.

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